TVS Infrastructure Trust, an Infrastructure Investment Trust (InvIT) sponsored by TVS Industrial & Logistics Parks (TVS ILP), has successfully raised ₹830 crores in Tranche I of its ₹1,100 crore Non-Convertible Debenture (NCD) programme. The issuance, anchored by the National Bank for Financing Infrastructure and Development (NaBFID), is one of the longest-tenor and lowest-cost debt transactions in India’s industrial and warehousing InvIT segment.
The 20-year bond issuance, extending until 2046, reflects investor confidence in the Trust’s portfolio and governance standards. Rated AAA by ICRA, the bonds carry a competitive coupon rate of 7.42%, underscoring the Trust’s strong asset-backed cash flows and disciplined capital management.
Mr. Ravi Swaminathan, Founder and Vice Chairman of TVS ILP, described the issuance as a “Viksit Bharat Bond,” aligned with India’s long-term developmental priorities and the vision of building durable, future-ready infrastructure assets. NaBFID’s Deputy Managing Director, Mr. Samuel Joseph Jebaraj, emphasized that the investment supports institutionally governed platforms contributing to sustainable economic growth.
The capital raised will reduce the Trust’s cost of debt and fuel its next growth phase, including expansion to 20 million square feet of industrial and logistics assets across Tier 2 and Tier 3 markets. CEO Mr. Nitin Aggarwal highlighted the focus on adding high-quality assets leased to diversified sectors such as manufacturing, e-commerce, FMCG, and FMCD.
With over 150 investors—including IFC, L&T, global institutions, and family offices—the Trust has reinforced its position as a benchmark issuer in India’s infrastructure financing landscape. Tranche II, amounting to ₹270 crores, will be raised based on market conditions and strategic requirements.
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